Hey, Lisa! I’m excited for next week!
We have definitely negotiated the admin cost in previous years, and I could see us negotiating for a capital campaign where no programming is occurring. I’m not sure (transparently) how the % is then decided (maybe Oliver will chime in or we can chat with him at NNFS).
I’ll also say that having a step down admin cost is also helpful in these situations (where the % decreases with dollars raised). I don’t remember your admin cost structure, so you may already be doing this!